Credit Suisse AG lessened its stake in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) by 5.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,089,189 shares of the company’s stock after selling 59,239 shares during the quarter. Credit Suisse AG’s holdings in Melco Resorts & Entertainment were worth $23,036,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. boosted its stake in Melco Resorts & Entertainment by 9.1% during the second quarter. BlackRock Inc. now owns 24,200,196 shares of the company’s stock worth $677,605,000 after buying an additional 2,013,914 shares during the period. Hardman Johnston Global Advisors LLC boosted its stake in Melco Resorts & Entertainment by 11.4% during the third quarter. Hardman Johnston Global Advisors LLC now owns 9,892,435 shares of the company’s stock worth $209,225,000 after buying an additional 1,011,558 shares during the period. Flowering Tree Investment Management Pte. Ltd. boosted its stake in Melco Resorts & Entertainment by 44.8% during the third quarter. Flowering Tree Investment Management Pte. Ltd. now owns 3,245,803 shares of the company’s stock worth $68,649,000 after buying an additional 1,003,934 shares during the period. Bank of America Corp DE boosted its stake in Melco Resorts & Entertainment by 14.5% during the second quarter. Bank of America Corp DE now owns 2,740,051 shares of the company’s stock worth $76,722,000 after buying an additional 347,489 shares during the period. Finally, Platinum Investment Management Ltd. boosted its stake in Melco Resorts & Entertainment by 9.2% during the second quarter. Platinum Investment Management Ltd. now owns 2,737,767 shares of the company’s stock worth $76,657,000 after buying an additional 230,800 shares during the period. 38.26% of the stock is owned by institutional investors.

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NASDAQ MLCO opened at $18.07 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.97 and a debt-to-equity ratio of 1.36. Melco Resorts & Entertainment Limited has a one year low of $15.33 and a one year high of $32.95. The company has a market capitalization of $8.96 billion, a PE ratio of 19.64, a price-to-earnings-growth ratio of 1.30 and a beta of 1.64.

Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its quarterly earnings data on Thursday, November 8th. The company reported $0.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.18). Melco Resorts & Entertainment had a net margin of 5.98% and a return on equity of 11.89%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the previous year, the business posted $0.24 EPS. The company’s revenue for the quarter was down 11.4% compared to the same quarter last year. Equities research analysts anticipate that Melco Resorts & Entertainment Limited will post 1.07 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 29th. Stockholders of record on Monday, November 19th were paid a $0.1451 dividend. This is a positive change from Melco Resorts & Entertainment’s previous quarterly dividend of $0.15. The ex-dividend date was Friday, November 16th. This represents a $0.58 annualized dividend and a dividend yield of 3.21%. Melco Resorts & Entertainment’s dividend payout ratio (DPR) is presently 61.96%.

Several research analysts have weighed in on MLCO shares. TheStreet lowered shares of Melco Resorts & Entertainment from a “b-” rating to a “c+” rating in a research note on Tuesday, October 30th. BidaskClub raised shares of Melco Resorts & Entertainment from a “strong sell” rating to a “sell” rating in a research note on Friday, September 21st. ValuEngine raised shares of Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, August 22nd. UBS Group lowered shares of Melco Resorts & Entertainment from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 12th. Finally, Sanford C. Bernstein lowered their target price on shares of Melco Resorts & Entertainment from $34.50 to $27.00 and set an “outperform” rating for the company in a research note on Monday, September 17th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $32.85.

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Melco Resorts & Entertainment Company Profile

Melco Resorts & Entertainment Limited, through its subsidiaries, develops, owns, and operates casino gaming and entertainment casino resort facilities in Asia. It owns and operates City of Dreams, an integrated casino resort that has 500 gaming tables and 800 gaming machines; approximately 1,400 hotel rooms and suites; a wet stage performance theater with approximately 2,000 seats; approximately 30 restaurants and bars, and 150 retail outlets; and recreation and leisure facilities, including health and fitness clubs, swimming pools, spa and salons, and banquet and meeting facilities.